Victory Capital Management Inc. lowered its holdings in VeriSign, Inc. (NASDAQ:VRSN – Get Rating) by 22.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,004 shares of the information services provider’s stock after selling 34,319 shares during the period. Victory Capital Management Inc. owned approximately 0.11% of VeriSign worth $21,622,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverview Trust Co purchased a new stake in shares of VeriSign in the 1st quarter valued at about $30,000. Quent Capital LLC purchased a new stake in shares of VeriSign in the 4th quarter valued at about $66,000. ICICI Prudential Asset Management Co Ltd purchased a new stake in shares of VeriSign in the 4th quarter valued at about $70,000. HHM Wealth Advisors LLC purchased a new stake in shares of VeriSign in the 1st quarter valued at about $71,000. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of VeriSign in the 1st quarter valued at about $86,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.
VeriSign Trading Up 0.8 %
Shares of VeriSign stock opened at $197.20 on Friday. The firm has a market capitalization of $21.16 billion, a PE ratio of 26.87 and a beta of 1.00. The business’s 50-day moving average price is $174.84 and its 200-day moving average price is $194.50. VeriSign, Inc. has a 12 month low of $155.25 and a 12 month high of $257.03.
In related news, Director Timothy Tomlinson sold 685 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $186.80, for a total transaction of $127,958.00. Following the transaction, the director now directly owns 15,692 shares in the company, valued at approximately $2,931,265.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.98% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Robert W. Baird lowered VeriSign from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $210.00 in a research report on Friday, April 29th.
VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. It enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which support global e-commerce.
- Get a free copy of the StockNews.com research report on VeriSign (VRSN)
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